Friday could be a wild day of trading on Wall Street. Here’s why

## Brace Yourself: Record-Breaking Options Expiration Day Ahead!

Get ready for a potentially wild ride on Wall Street! This Friday marks a “quadruple witching” day, the expiration of options on four different types of securities, and Goldman Sachs is predicting it will be the largest on record. Here’s what you need to know:

• **Massive Exposure:** Over $7.1 trillion in notional options exposure is expiring, dwarfing all previous records. This includes roughly $5 trillion tied to the S&P 500.
• **What’s a “Quadruple Witching” Day?** It’s when options on index options, single stock options, index futures, and index futures options all expire on the same day.
• **Potential for Volatility:** Expect higher trading volumes and potentially choppy price action, especially around key levels in the S&P 500.
• **”Pinning” Effect:** Some individual stocks with large open interest could see prices “pinned” near key levels as traders adjust their hedges. This can be a strategic opportunity for large investors.
• **Stocks to Watch:** Keep an eye on stocks like GeneDx Holdings, BILL Holdings, Avis Budget Group, and GameStop, which could be particularly susceptible to this “pinning” effect.
• **Market Context:** The S&P 500 is up about 15% this year.

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